Bermudian-based Aspen Insurance Holdings Limited has announced an industry-first partnership with London-headquartered Ki Insurance to provide digital follow capacity through Ki’s Lloyd’s platform from January 1.

Operating as Aspen Digital, the company said, its new, digital-only platform would offer additional capacity alongside its existing Lloyd’s Syndicate 4711.

Aspen said Ki was the first fully digital and algorithmically-driven Lloyd’s syndicate.

Under this agreement, Aspen will be partnering with Ki across open market classes of business in the property, casualty and specialty divisions.

The company said that the multi-year partnership would see Aspen increase its follow capacity by $100 million to complement its existing capacity through Syndicate 4711, subject to Lloyd’s approval.

Mark Cloutier, Aspen executive chairman and group chief executive, said: “Lloyd’s is an important platform for Aspen and one we have successfully grown in recent years with our syndicate now one of the top performers in the market.

“We have been clear in our aspiration to continue to grow our presence in Lloyd’s and our long-term partnership with Ki will form an important part of this.

“The Ki team have built an outstanding platform that has already been enthusiastically adopted by the broking community and we look forward to working closely with them as partners.”

Sarah Stanford, active underwriter, Syndicate 4711, said: “This is a proud moment for Aspen. Our digital partnership with Ki is not only a reflection of Aspen’s commitment to growing our Lloyd’s footprint but is also testament to our ambition to innovate and meet our brokers where they want to find us.

“Aspen Digital complements perfectly our strong existing capacity and supports our ambition to be a top quartile specialty (re)insurer. I look forward to working with the Ki team and seeing the results of this industry-first partnership, while we continue to consolidate our Syndicate 4711.”

The company said the launch of Aspen Digital was another exciting development for Aspen’s Lloyd’s platform.

A spokesman said: “We recently returned to the newly refurbished Underwriting Room at the Lloyd’s building, where we now have a prestigious ground floor space for underwriters, as well as a presence on Gallery 2.

“This prime position allows our colleagues to develop relationships and do business more readily and reflects our stronger presence in an increasingly significant platform for our business.”